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Banks Halting Foreclosures

Posted on May 25, 2011.

CBS News business and economics correspond Rebecca Jarvis Speaks to Harry Smith about Why Some banks are halting foreclosure Processes and What It Means for Homeowners at-risk.

Posted In: Foreclosures
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Comments

Despina Wichterman says...

If you really think it is caused by sheer volume CBS you would be wrong.. They knew about this, they don't care, they WANT to foreclose adn foreclose fast. They get more money that way.

2) This is related to the MORTGAGE FRAUD part of why foreclosure is great is it clears out the mortgage fraud.

3) they DO not what happend.. .don't be silly.. They dont' sign a LEGAL affadavit without KNOWING what they are doing.

INVESTIGATION is totally needed and not to cover it up

Posted on May 27, 2011
Torie Sandhaus says...

They bet govt doesn't have resource to find out anything when local govts are cutting budgets and not hiring; and I guess they are right and they know how. You know how they hacked and created the Intellectual Properties Laws because they know the dept is small and have no way to handle huge volume of work loads then ... loopholes and bubbles; so we have all kinds of technologies for building houses but we can't build houses for homeless.

Posted on May 28, 2011
Kimiko Florencio says...

The servicer who is filing the foreclosure has no legal standing to foreclose. No Title. The loan orignator, if they are still in business, has no right to foreclosure because they Securitized the loan. Clouded Title. They would have to track down the CDO investor, who was made whole by the derivative contract. If the origanal note hasn't been chopped up into a 1000 pieces, maybe they have a chance, but then there's a REMIC, IRS issue still. Free House, Clear Title.

Posted on May 30, 2011
Ingeborg Falu says...

This is what most people called foreclosure bubble or robo-signer bubble. Bankers are not actually desperate for selling bad assets like majority of low income people are; but bankers need some cash to please their overseas tycoon American CEOes because they want to own more overseas properties and take profit from any kind of cash flow only.

Posted on May 31, 2011
Sana Geesaman says...

Wipe out all Main banking cities ie Wall street WiLmington Del Sioux City SD and

OF course all FED Treasury areas Philadelphia PA ,Denver Col Their Main HQ in Washington DC and shut them down----make standardized Exchange system with levels based on achievement for Super advancement of this country instead of super corruption those who oppose should be thrown Alive with their family members into huge wood chipper! Nationally televised no exceptions.

Posted on June 1, 2011
Piedad Gribben says...

lower the fucking interest rate to 3% for everyone so we can move onI know someone paying 7% . he has a perfect record and with out doubt deserves 3%.

The fucking bank gives him 7% WHY WHY WHY WHY

Posted on June 2, 2011
Devin Yoshimoto says...

she doesn't even know what is going on! Its not about "volume" or paperwork. This is just the very tipppy tip of what is going on. Do they think the public are total morons?

Posted on June 6, 2011

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